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Zimbabwe’s Gold Reserves Surge 198% to Back ZiG, Taming Currency Volatility: Reserve Bank

Zimbabwe’s Gold Reserves Surge 198% to Back ZiG, Taming Currency Volatility: Reserve Bank

Sputnik Africa

Zimbabwe’s Gold Reserves Surge 198% to Back ZiG, Taming Currency Volatility: Reserve Bank The country's gold reserves have risen to 4.48 tonnes in two years... 17.05.2026, Sputnik Africa

2026-05-17T16:54+0200

2026-05-17T16:54+0200

2026-05-17T17:04+0200

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Zimbabwe’s Gold Reserves Surge 198% to Back ZiG, Taming Currency Volatility: Reserve Bank The country's gold reserves have risen to 4.48 tonnes in two years, providing tangible backing for the Zimbabwe Gold (ZiG) currency and helping restore public trust, the Reserve Bank of Zimbabwe (RBZ) announced.Last week, President Emmerson Mnangagwa confirmed the central bank now holds over $1.4 billion in reserves, which underpins the country’s monetary sovereignty."That $1.4 billion is predominantly composed of gold reserves, and we are continuing to grow it," RBZ Governor John Mushayavanhu told reporters. As a result, annual inflation has dropped from over 90% to 4.8% by April, and the ZiG has traded stably at 25–26 per US dollar. Zimbabwe ranks 11th in Africa for official gold holdings, with bullion accounting for nearly 48% of total reserve assets.Subscribe to @sputnik_africa Sputnik Africa | X

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